Company
FeedThames River duo take over F&C funds
David Burrows
Sep 3rd 2010
Filed under: Company, Investing
The entire F&C fund of funds range, has been handed over to former Thames River duo Gary Potter and Rob Burdett. The pair who initially made their name at Credit Suisse, where they also ran multi-manager funds, will replace Dean Cheeseman, and his co-manager Oliver Sonnbichler who leave the firm by mutual consent.
Another manager quits Gartmore
David Burrows
Sep 3rd 2010
Filed under: Company, Investing
Gartmore has seen another high profile departure with fund manager Gervais Williams announcing he is to quit. Williams, a stalwart at the company and head of Gartmore's UK Smaller Companies team, has announced he will leave the company at the end of this month, requiring Gartmore to restructure one of its biggest investment teams.
Bidding hots up for Carrefour
David Burrows
Sep 2nd 2010
French supermarket giant Carrefour is putting the bulk of its Asian business up for sale with as many as 10 interested parties believed to be putting together bids – including Tesco.
Given we are told constantly of the growth prospects of the Asian market it might seem strange that Carrefour should be planning such an exit strategy.
Managers jump back into UK equities
Adrian Holliday
Sep 1st 2010
Filed under: Company, Debt, Economy, Personal Finance, Retail
Apparently the double-dip fears are overdone. Or perhaps fund managers have a more reliable crystal ball than the rest of us. Whatever it is, fund managers are starting to pour their cash back into UK equities. So maybe there are reasons to be cheerful about the economy?Credit Suisse does U-turn on bonuses
Adrian Holliday
Sep 1st 2010
Filed under: Company, Economy, Taxes
When is a bonus not a bonus? Answer: when it's a discretionary leadership award. That's at least how Credit Suisse appear to be nipping around ex-chancellor Alistair Darling's bankers' bonus tax. Around 400 Credit Suisse bankers are likely to benefit from the new windfall payments made today.Manufacturing in UK and Eurozone falls
Adrian Holliday
Sep 1st 2010
Filed under: Company, Economy, Job Focus, Manufacturing
It was good while it lasted. Growth in the UK's manufacturing sector has lost its zip. The new Markit/Chartered Institute of Purchasing and Supply Manufacturing PMI index slipped to 54.3 last month from an already downwardly revised 56.9 in July. This is a shock result, below analyst estimates. Eurozone growth has also faltered.Lionel Richie fronts Walkers ad push
Martin Cloake
Aug 31st 2010
Cheesy Like Sunday Morning could well have been your reaction to Lionel Richie's first appearance in an advert for 30 years (right) over the Bank Holiday weekend. He's promoting Walkers Crisps alongside long-time face of the brand Gary Lineker. It's enough to keep you up All Night Long.Omega coup board passes loss blame
Chris Wheal
Aug 31st 2010
Filed under: Company, Insurance
Omega – the Lloyd's and Bermuda insurer subject to a shareholder revolt and the hostile ousting of its chairman and board – has posted an H1 pre-tax loss of $34.2m compared with a 2009 profit of $22.9m. In a public washing of its dirty laundry the new management blamed its predecessors for poor reserving for prior year claims.Crossrail delay could see Boris quit
Adrian Holliday
Aug 30th 2010
Filed under: Company, Economy, Investing, Job Focus, Public Services
Will Crossrail survive the spending cuts? The 72-mile West-to-East London line could be held back another year in an effort to save cash. The issue is hugely significant for London mayor Boris Johnson - who could even resign if George Osborne delays on the £16bn project come his October spending review.Is BP Still Spraying Toxic Dispersants in the Gulf?
DailyFinance.com
Aug 28th 2010
Filed under: Company, News , Energy, US
The BP (BP) oil spill may be over, but controversy over the company's use of toxic oil dispersants in the Gulf of Mexico is still going strong. Although BP allegedly stopped using the chemicals more than a month ago, area residents claim it is still spraying Corexit, a chemical dispersant, from airplanes and boats.Toyota hit by massive new car recall
Adrian Holliday
Aug 27th 2010
Filed under: Company, News , Manufacturing
Yet another big recall for Toyota. Just when the company had started to put the reliability scares behind it, Toyota is now having to recall 1.1m Corollas built between 2005-2008 over concerns that engines could unexpectedly cut out due to faulty engine control modules (ECMs).Bloomsbury diversifies and delivers
Martin Cloake
Aug 26th 2010
Filed under: Company, Creative industries
Spies, maths, the Wombles, ghoulish fantasies and the memoir of an American divorcee's world travels... our interest in this eclectic mix of subjects helped publisher Bloomsbury to continue increasing profit according to results posted this morning.Polly Peck tycoon prepares for UK trial
Adrian Holliday
Aug 26th 2010
Filed under: Company, Investing, Banking
The Serious Fraud Office (SFO) will shortly roll out the welcome mat out at Luton airport for fugitive Polly Peck tycoon Asil Nadir. Now almost 70, Nadir will land in a Turkish jet and then be electronically tagged. Back to argue his innocence against false accounting allegations, it's a bizarre twist to a saga that saw Nadir's £2bn FTSE-100 business obliterated back in 1990.Full-year profits sober up for Diageo
Adrian Holliday
Aug 26th 2010
Filed under: Company, Investing, Retail
Liquor giant Diageo says full year operating profits increased just 2% thanks to better performance from the emerging markets of Latin America and Asia. However back in recession-hit Europe and the US, the Guinness and Smirnoff maker has less to celebrate; sales remain weak.3D boom boosts outlook at Pinewood
Martin Cloake
Aug 25th 2010
Filed under: Company, Creative industries
Pinewood Shepperton film studios, one of world cinema's most iconic names which provided studio space for Bond, the Carry On crew and latterly Harry Potter, has issued a bright sales outlook which sees it capitalising on the boom in 3D films prompted by Avatar. But profits have continued to fall.
